Authorizes industrial development agencies to provide technical and financial assistance to qualified residential facilities; defines "qualified residential facility" as any multi-family residential facility with units that are for sale, in any municipality located within the county of Westchester, and which is located in an urban renewal area.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A4635
SPONSOR: Pretlow TITLE OF BILL:
An act to amend the general municipal law, in relation to authorizing
industrial development agencies to provide assistance to qualified resi-
dential facilities
PURPOSE:
To extend industrial development agency financial assistance to multi-
family residential housing projects in any municipality located within
the county of Westchester having a population of less than one million
and which are located in an urban renewal area designated under the
urban renewal law or in a highly distressed area as defined in the
industrial development agency act.
SUMMARY OF PROVISIONS:
Amends subdivision 4 of section 854 of the general municipal law to
expand the definition of "project" to include a "qualified residential
project." Amends section 854 of the general municipal law to add a new
subdivision 20 thereto defining "qualified residential project" for the
purposes of the industrial development agency act.
JUSTIFICATION:
Industrial development agency financial assistance is a significant
inducement to private commercial redevelopment of our distressed down-
town cores. Under the industrial development agency act, the development
of multi-family rental residential housing is a commercial project for
which an industrial development agency may provide financial assistance.
However, under current law, an industrial development agency may not
provide financial assistance to multi-family housing projects, even in
designated urban renewal areas or in highly distressed areas where
private investment in our communities and the creation of ownership
housing is most needed, and even though assisting the development of
multi-family housing projects in such areas would meet the goals and
objectives of the industrial development agency act. This bill would
specifically authorize industrial development agency assistance to
multi-family housing projects in any municipality located within the
county of Westchester which are located in a designated urban renewal
area or highly distressed area as defined in the industrial development
agency act.
LEGISLATIVE HISTORY:
2021-2022 A1715 referred to local governments
2019-2020 A3351 referred to local governments
2017/2018 A1091 referred to local governments
2015/2016 A1591 referred to local governments
2013-14 A.532 referred to local governments
2012: A.2755 Referred to Local Governments
2010: A.4059 Referred to Local Governments
2008: A.11175 Reference Change to Ways & Means
FISCAL IMPLICATIONS:
To be determined.
EFFECTIVE DATE:
Immediately.
STATE OF NEW YORK
________________________________________________________________________
4635
2023-2024 Regular Sessions
IN ASSEMBLY
February 21, 2023
___________
Introduced by M. of A. PRETLOW -- read once and referred to the Commit-
tee on Local Governments
AN ACT to amend the general municipal law, in relation to authorizing
industrial development agencies to provide assistance to qualified
residential facilities
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 4 of section 854 of the general municipal law,
2 as amended by section 5 of part X of chapter 59 of the laws of 2021, is
3 amended to read as follows:
4 (4) "Project" - shall mean any land, any building or other improve-
5 ment, and all real and personal properties located within the state of
6 New York and within or outside or partially within and partially outside
7 the municipality for whose benefit the agency was created, including,
8 but not limited to, machinery, equipment and other facilities deemed
9 necessary or desirable in connection therewith, or incidental thereto,
10 whether or not now in existence or under construction, which shall be
11 suitable for manufacturing, warehousing, research, commercial, renewable
12 energy or industrial purposes or other economically sound purposes iden-
13 tified and called for to implement a state designated urban cultural
14 park management plan as provided in title G of the parks, recreation and
15 historic preservation law and which may include or mean an industrial
16 pollution control facility, a recreation facility, educational or
17 cultural facility, a horse racing facility, a railroad facility, a qual-
18 ified residential facility, a renewable energy project or an automobile
19 racing facility, provided, however, no agency shall use its funds or
20 provide financial assistance in respect of any project wholly or
21 partially outside the municipality for whose benefit the agency was
22 created without the prior consent thereto by the governing body or
23 bodies of all the other municipalities in which a part or parts of the
24 project is, or is to be, located, and such portion of the project
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09414-01-3
A. 4635 2
1 located outside such municipality for whose benefit the agency was
2 created shall be contiguous with the portion of the project inside such
3 municipality.
4 § 2. Section 854 of the general municipal law is amended by adding a
5 new subdivision 22 to read as follows:
6 (22) "Qualified residential facility" - shall mean any multi-family
7 residential facility with units that are for sale, in any municipality
8 located within the county of Westchester, and which is located in an
9 urban renewal area designated under article fifteen of this chapter or a
10 highly distressed area, together with buildings, structures, machinery,
11 equipment, facilities and appurtenances thereto deemed necessary, useful
12 or desirable in connection therewith, or incidental thereto, but shall
13 not include a continuing care retirement community.
14 § 3. This act shall take effect immediately.
